New buy-to-let mortgages launched by NatWest

16 March 2005
NatWest has announced the launch of two new buy-to-let mortgage deals for the intermediary market.

The two deals offer a base rate of 0.54 per cent, variable until June 30th 2007, and come with free valuation and an overpayment option.

Charles Haresnape, director of mortgage sales for NatWest, emphasised the fact that the new deals confirm the building society's commitment to offering attractive mortgage deals to both new and existing customers.

"We are constantly looking to improve our mortgage range and have recently
reviewed our buy-to-let deals," Mr Haresnape stated.

"At NatWest monthly rental incomes must be 130 per cent of the interest only mortgage payment, calculated at Bank Base Rate + 1.25 per cent (minimum of six per cent), thus making the process more straightforward for potential investors to meet monthly income yields."

The Council of Mortgage Lenders (CML) recently reassured mortgage borrowers over the rise in the number of buy-to-let mortgages in arrears and a fall in the number of new mortgage advances, stating that the buy-to-let market was still seeing growth.

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